Unilever Sees Beauty in Russia

By

Andrew Peaple

Oct. 14, 2011 12:37 p.m. ET

Unilever's face-lift continues, this time with the help of some Russian beauty products. Chief Executive Paul Polman wants Unilever to become more focused on personal-care products, and eventually make 70% of its sales from emerging markets. The €500 million ($688.85 million) acquisition of 82% of Koncern Kalina, Russia's leading hair-care and soap company, fits both bills. But this splash of Russian make-up isn't coming cheap.

Unilever is tapping into a fast-growing market; Russian spending on beauty products is forecast...